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Shares hit 21-month high after holiday

    Shares hit 21-month high after holiday


    Investors react at a brokerage in Nanjing yesterday. Shanghai stocks hit a 21-month high following a strong week on Wall Street as Chinese trading resumed after a holiday.

    Shanghai stocks closed at a 21-month high yesterday after the holiday break, driven by auto manufacturers and telecommunication counters.

    The Shanghai Composite Index rose by 0.76 percent to end at 3,374.38 points.

    Auto shares such as Yaxia Automobile Corp, Haima Automobile Group Co Ltd and Anhui Jianghuai Automobile Group Corp Ltd all surged by the daily limit of 10 percent.

    Telecom shares also rose, with ZhongTongGuoMai Communication Co Ltd, Telling Telecom Holding Co Ltd and Beijing Bewinner Communications Co Ltd all hitting the maximum daily 10 percent cap.

    Shares of home appliances companies advanced too, with Zhejiang Supor Co Ltd rising by 8.29 percent to 41.00 yuan (US$6.19) and Jiangsu Sunrain Solar Energy Co Ltd touching the maximum daily 10 percent cap to end at 9.13 yuan.